Defining “Context” with Institutions as Fuzzy Rule Bases

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http://www.scirp.org/journal/PaperInformation.aspx?PaperID=53593#.VMnk8yzQrzE

Author(s)   

Prateek Goorha^*, Jason Potts

Affiliation(s)

School of Economics, Finance and Marketing, RMIT University, Melbourne, Australia.

ABSTRACT

We propose considering an institutional context as a fuzzy control system, and, thereby, the role of any given institution to be akin to a database of fuzzy rules. We develop this analogy for a hierarchical institutional system and provide an overview of the method for designing the database structure using a hierarchical system of linguistic rules. This, we submit, is as an interesting way of looking at institutional development with nested institutions.

 

KEYWORDS

Institutions, Context, Rules, Subjectivity, Control

Cite this paper

Goorha, P. and Potts, J. (2015) Defining “Context” with Institutions as Fuzzy Rule Bases. Theoretical Economics Letters, 5, 14-18. doi: 10.4236/tel.2015.51003.

 

References

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